Candriam S.C.A. Has $18.61 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Candriam S.C.A. cut its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 332,392 shares of the company's stock after selling 62,985 shares during the period. Candriam S.C.A. owned 0.54% of Rhythm Pharmaceuticals worth $18,607,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RYTM. Freestone Capital Holdings LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $207,000. Raymond James Financial Inc. bought a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $218,000. Charles Schwab Investment Management Inc. increased its stake in shares of Rhythm Pharmaceuticals by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 440,250 shares of the company's stock worth $24,645,000 after purchasing an additional 6,384 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $37,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 740.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 454 shares of the company's stock valued at $25,000 after purchasing an additional 400 shares during the period.

Insider Activity

In related news, CEO David P. Meeker sold 9,896 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $566,249.12. Following the transaction, the chief executive officer now directly owns 201,281 shares of the company's stock, valued at $11,517,298.82. This trade represents a 4.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher Paul German sold 635 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total transaction of $36,334.70. Following the transaction, the chief accounting officer now owns 2,070 shares of the company's stock, valued at approximately $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is currently owned by company insiders.

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Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock traded down $2.23 during midday trading on Monday, hitting $48.56. The company's stock had a trading volume of 428,678 shares, compared to its average volume of 491,576. The company has a 50-day moving average price of $56.53 and a two-hundred day moving average price of $54.61. Rhythm Pharmaceuticals, Inc. has a 1-year low of $35.17 and a 1-year high of $68.58. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -11.21 and a beta of 2.30.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. Sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Oppenheimer began coverage on Rhythm Pharmaceuticals in a research note on Friday, December 20th. They issued an "outperform" rating and a $76.00 price target on the stock. HC Wainwright lifted their price objective on shares of Rhythm Pharmaceuticals from $69.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and issued a $64.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.31.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.